Latest Headlines – Page 121
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ArticleAcushnet suffers setback in Q4, but had a solid year thanks to global golf boom
The Titleist, FootJoy and Kjus parent reported a fourth-quarter operating loss of $21.9 million versus an operating profit of $27.1 million. The reported net loss was $26.4 million for the period ended Dec. 31. Quarterly revenues were essentially flat at $420.6 million versus $420.5 million. Sales in the EMEA rose ...
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ArticleThe sports world reacts to the invasion of Ukraine
We’ve already reported on consequences taken by Nike, Adidas, Keen, Haglöfs and Mammut following Russia’s aggression against Ukraine last week, but there’s much more going on in the sports world. Here is an excerpt of the latest happenings: The International Biathlon Union IBU excludes biathlon teams from Russia and ...
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ArticleOdlo buys Janus and moves its wool production to Norway
Odlo International AG, the Swiss company with Norwegian roots, has reached an agreement to acquire 100 percent of the shares in Janus Holding AS. Janus, founded in 1895, is Norway’s largest and oldest manufacturer of wool underwear and the only remaining company producing wool products on a large scale in ...
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ArticleAdidas completes divestiture of Reebok; launches new share buyback program
Adidas has formally completed the divestment of Reebok to Authentic Brands Group (ABG) on Feb. 28, 2022. On a transitional basis, the company announced that it would continue to operate the business on behalf of ABG in several markets. Subsequently, the Reebok business will be fully transferred to ABG’s operating ...
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ArticleiFit Health & Fitness raises $355 million in capital, names co-presidents
Months after abandoning a $650 million initial public offering due to unfavorable market conditions, iFIT Health & Fitness, formerly known as Icon Health & Fitness and parent of the NordicTrack, Weider and ProForm fitness brands, amongst others, has raised $355 million in capital from L. Catterton, the largest global consumer-focused ...
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ArticleMoncler’s 2021 sales surpass €2 billion
Moncler’s preliminary consolidated financial results showed revenues of €2,046.1 million for the full year ended Dec. 31, 2021, marking a 44 percent increase compared to 2020 and a 28 percent increase compared to 2019, generating an adjusted gross margin of 76.6 percent. These figures include nine months of sales for ...
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ArticleCoDi foresees slower growth in 2022, postpones 5.11 IPO
Compass Diversified (CoDi), citing supply chain and inflationary issues and lower year-over-year demand for products within its Velocity Outdoor business, is forecasting a temporary slowdown in its 2022 growth rate that will likely be lower than its long-term growth rate target. Also, the company, whose portfolio includes Boa Technology and ...
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ArticleFoot Locker shares take hit on waning Nike product assortment
Foot Locker’s share price fell by $12.30, or 29.7 percent, on Friday after the retailer told investors that its allocation of key Nike products would decline this year to no more than 55 percent of its overall merchandise assortment by the fourth quarter, adding that its 2022 outlook will fall ...
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ArticleThe IdeaList
Committed, convinced and confident: people we call idealists, whose achievements - small and large - stand out for a more sustainable world. They have inspired others, founded movements or protected regions. Some of them have been seen and heard, others less so. But all of these idealists have proven themselves ...
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ArticleSustainability State Of Industry Survey
For the first time, EDM Publications conducted a survey among its readers on the topic of sustainability in January. The privilege of gaining access to an elite pool of decision-makers and asking them for their opinions was exceptionally exciting. This survey is not intended to be the only one. We ...
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ArticleSales surge in Polygiene’s Q4 despite logistics and raw material supply challenges
Polygiene saw revenues in the fourth quarter rise by 51 percent to 40.2 million Swedish kronor (€3.7m) as demand for its anti-microbial products continued to be strong, but logistics challenges and raw material shortages also persisted. In the fourth quarter, operating profit before tax totaled SEK 6.2 million (€578,120), making ...
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ArticlePuma releases video with chess champion Carlsen for “Only See Great” campaign
In a video interview published on YouTube, the recently announced Puma ambassador and Norwegian world chess champion Magnus Carlsen speaks about his motivation to stay at the highest level in his sports and how he became the highest-rated player in history. With the “Only See Great” campaign, Puma explores the ...
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ArticleDriving toward breakeven results, Allbirds preps a wholesale strategy
Allbirds reported positive adjusted Ebitda of $0.4 million for the fourth quarter of 2021, compared with a loss of $5.3 million in the corresponding period of 2020, thanks to higher revenues combined with a reduction in marketing expenses from 29.8 percent to 19.1 percent of sales. The company attributed the ...
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ArticleSweaty Betty delivers for Wolverine as Q4 revenues rise
Wolverine Worldwide swung to a better-than-expected annual profit and narrowed final-quarter losses, boosted by its recent acquisition of Sweaty Betty, the U.K.-based brand of women’s fitness apparel, and it forecast sales growth of 15-18 percent for 2022. The Michigan-based owner of Merrell, Saucony, Sperry, Keds and other brands reported a ...
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ArticlePuma sees 2022 sales up at least 10%, headwinds from higher costs, China
With its traditional conservative approach, Puma said it expects currency-adjusted sales to increase by “at least 10 percent” in all the regions in 2022, despite a very strong order book, but warned that higher freight and raw material costs would weigh on profits, while an ongoing consumer boycott in China ...
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ArticleGo ahead and greenwash!
In the fight against climate change, companies must now take responsibility and step up efforts in the area of climate protection. This is true even if strategies and plans are not yet perfectly developed. Inaction and hesitation out of fear of possible criticism harm everyone: the climate and the companies ...
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ArticleCircular Economy: Where all the threads come together
The adage “good things come to those who wait” does not apply to the tasks ahead for a low-emissions industry responding to the climate crisis, the biodiversity and nature crisis, and the pollution and waste crisis. Part of these urgent tasks is to advance existing recycling capabilities. A critical part ...
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ArticleLeading the pack
Some industry executives are thinking further ahead. They have visions. And they act. They have understood. And they share. And they seem to be better at connecting the dots. In our first edition of the EDM Sustainable Business Special, we introduce the first four individuals we consider to be true ...
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ArticleReGenerative Agriculture: A way for clothing to exchange its bad reputation for a force for good?
At the end of 2021, COP26 centered around the climate crisis that has brought global temperature rising to center stage and how there is a need to take carbon out of the atmosphere. This year, COP15 needs to have as much attention as it focuses on restoring global biodiversity. The ...
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ArticleOn the hunt for green trappers: Greenwashing and the EU legislation
Greenwashing, meaning advertising environmental initiatives without actually implementing sustainable business practices, is more than common, misleading consumers with promising advertisements or claims about a product’s true benefits. According to a Deloitte survey of U.K. customers, 34 percent of consumers do not choose sustainable products because they perceive a lack of ...
